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Nov 19, 2012
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michael burry, a california physician with only one good eye. uncomfortable dealing with patients, burry quit medicine and started a hedge fund in cupertino. beginning in 2003, he turned to something that no one else in america was doing: reading and analyzing the pools of risky subprime mortgage loans that wall street had been buying up and bundling into highly profitable mortgage-backed securities, which they were selling to investors around the world. >> i called up the prospectuses, and i read the prospectuses, and i looked at these pools. i could see the credit standards within these pools deteriorating just quarter to quarter. >> how could you tell that? >> there was essentially crappier mortgages being put into these pools, and it didn't seem investors seemed to care, and it didn't seem the ratings agencies seemed to care. >> do you think many people read these prospectuses? >> i think the lawyers that put them together...[laughs] to an extent, maybe. >> do you think the executives at the big wall street firms who were issuing these bonds
michael burry, a california physician with only one good eye. uncomfortable dealing with patients, burry quit medicine and started a hedge fund in cupertino. beginning in 2003, he turned to something that no one else in america was doing: reading and analyzing the pools of risky subprime mortgage loans that wall street had been buying up and bundling into highly profitable mortgage-backed securities, which they were selling to investors around the world. >> i called up the prospectuses,...
484
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Nov 19, 2012
11/12
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KNTV
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the jessee clan of california. they vacationed together, shared birthdays, even got together for a monthly game of ten pin. but what these grainy home videos don't show is what is yet to come. which is murder, conspiracy. one branch of the family against the other. a game so twisted, mice so clever, that crafting a trap to catch them might just be impossible. to begin with, it was 1998. "shakespeare in love" won the oscar. monica lewinsky was freshly famous. it was a sweltering august night, hottest of the year, when cheryl got a strange call from her dad jack jesse. >> i was getting ready for bed and it was my dad on the phone. >> what time was this? >> it was 20 after 9:00. >> he was worried about his wife sandra. she was missing. >> what did he think had happened? >> he just thought maybe she had gotten in an accident or something. >> she had run to this nearby mall to run an errand but was gone so long. would cheryl please find her, asked her dad. >> went through there, burger king, walmart, and supposed to be
the jessee clan of california. they vacationed together, shared birthdays, even got together for a monthly game of ten pin. but what these grainy home videos don't show is what is yet to come. which is murder, conspiracy. one branch of the family against the other. a game so twisted, mice so clever, that crafting a trap to catch them might just be impossible. to begin with, it was 1998. "shakespeare in love" won the oscar. monica lewinsky was freshly famous. it was a sweltering august...
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Nov 19, 2012
11/12
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CURRENT
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tara in california. hi tara. >> i'm a big fan. i downloaded the sexy liberal tour and i'm going to go see the next show next time you're in the bay area. >> stephanie: yeah. >> caller: i have something to say about mccain and romney but first i want to thank you that you never make us listen to -- and give equal time to the dodos on the other side. i appreciate that. >> stephanie: we're anti-dodo. thank you. >> caller: i just wanted to say about mccain in my opinion he lost all credibility the day he accepted sarah palin as his vice presidential candidate. >> stephanie: can you believe he called susan rice not very bright? >> caller: wow. i wouldn't take his opinion on very much. both romney and mccain could have been serious threats if they had run moderates they used to be. >> stephanie: right. his comments about the gifts and then 47% comments before that, it goes to show you what the thing we were always the most afraid of. he's not a moderate. >> caller: no. he was faking it when he was pretending to be a moderate back in mas
tara in california. hi tara. >> i'm a big fan. i downloaded the sexy liberal tour and i'm going to go see the next show next time you're in the bay area. >> stephanie: yeah. >> caller: i have something to say about mccain and romney but first i want to thank you that you never make us listen to -- and give equal time to the dodos on the other side. i appreciate that. >> stephanie: we're anti-dodo. thank you. >> caller: i just wanted to say about mccain in my...
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Nov 19, 2012
11/12
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. >> so i go away on vacation, i'm in napa, california. come back, boom, twinkies gone. i can tell you this, there's a chance they will not be extinct after all. analysts say well-known companies are expressing interest in hostess products including pepperidge farm and the company that makes tasty cakes. there's also a potential buyer out of mexico called bimbo bakeries. >> do not go on vacation again. >> i'm sorry. the chocolate cup cakes? delicious. anyway, clock, ticking on the american economy year-end fiscal cliff we've been talking about for awhile here. a challenge, president obama mentioned on his pan asian tour just this week. >> i'm confident that we can get our fiscal situation dealt with. and i think it's important to recognize that yeah democracy is a little messier than alternative systems of government. but that's because democracy allows everybody to have a voice. >> mayors across the country are urging washington to get it back to the before it's too late. they're gathering in washington, d.c. to lay out the issues their cities will face if there's no co
. >> so i go away on vacation, i'm in napa, california. come back, boom, twinkies gone. i can tell you this, there's a chance they will not be extinct after all. analysts say well-known companies are expressing interest in hostess products including pepperidge farm and the company that makes tasty cakes. there's also a potential buyer out of mexico called bimbo bakeries. >> do not go on vacation again. >> i'm sorry. the chocolate cup cakes? delicious. anyway, clock, ticking on...